What is the current Canadian exchange rate? In the U.S. that sounds about right. I would have tried for around $4750 U.S. Wether gold is a good investment now or not is debatable. It is near an all time high. Some think it will go up another $100 short term, others think as the economy gets better that it will go down $100 short term. Your guess is as good as anyones at this point.
yes,but it is a longterm investment,unless inflation becomes a big factor which I am counting on in the US
Yeah, I like the feel of massive gold too. For strictly gold investments bars are the way to go with the least overhead.
I agree that because of the uncerainty in usual investments,that gold and silver are the more safe and reliable .I think 15-20% is reasonable, possibly even higher with the continued deterioration of the dollar and oncoming inflation
I still have several PCGS graded gold and platinum Eagles all have a "W" mint mark on them graded MS70. I tried several times in the past to sell these coins but the $80.00+ below melt offers have kept me from selling them. I guess I am lucky not to need the money at this time and am not pressured to sell. I just hope someday in the distant future I will at least be able to break even on my costs to obtain them. the dates on these coins are low mintage numbers.
I would be interested in buying some of your gold eagles.,if you are still trying to sell them. sjnaum
Thought you were lost at sea! LOL! W mintmark coins are more to the liking of numismatic coin collectors than bullion investors and the platinum coins seem to have a pretty small collector base. mintage statistics are also more the appeal of numismatic collectors but low demand doesn't necessarily mean you can realize a numismatic premium any more than you can locate a buyer, as you know due to your difficultly unloading these coins.
Yea but $80+ below melt? I cant believe these coins are worth less then bullion ones! I mean they have the same quality metal as well as weight. I guess they are less desirable then straight bullion coins for some reason
For one, I think many feel that Platinum and Palladium have been very highly overpriced the last number of months.
There are indeed unc/MS issued coins from the US Mint with a "W" mintmark that are primarily marketed to collectors as colelctor versions and TPG slabbed coins are usually the domain of collectors based on coin condition (grades). Bullion investors are less interested in these numismatic factors and so wouldn't necessarily always be willing to pay collector premiums. Check Numismedia FMV for your coins to get a ball park figure of the going prices in your grades.
I had a favorite dealer who had a few graded platinum fractional eagles in his case for forever, I bought them from him as a sort of present, he must sell high and buy under melt to make a profit, platinum has been down for a while now, you might do better offerring them for sale on the open section, at least there you will probably do better since you can sell them at spot, and for a collector they can buy them at melt instead of paying a dealers premium.
I understand a lack of numismatic premium, but I would think bullion should be a floor, no matter who they were originally marketed to. $80 below melt seems unreasonable to me, even with no numismatic premium.
Platinum as bullion has been very overpriced the last year+ and since gold and silver have experienced recent spikes (and focused attention) platinum has dropped off, along with palladium dropping as well, a relative of Platinum. There's already a smaller investor pool for platinum than for gold or the even more accessible in price, silver PMs. Platinum is much less in demand both for bullion investment (and as mintage figures show, for collectors with numismatic interest the Mint sales figures of those collectors versions is small by comparison to AGEs or ASEs.) Perhaps investors and collectors simply perceive greater risk in platinum due to it rise in the past year and sudden dip. Many people don't think of platinum immediately in the way they do with gold or silver, if they even consider it an investment at all likening it only to it's industrial applications. Combine this with the collectors versions of the coins Yankee is trying to sell and it further reduces the amount of ready buyers. Demand is low and the floor hasn't been reached, buyers help determine the floor.
